Q1 2024 Earnings Forecast for Affiliated Managers Group, Inc. (NYSE:AMG) Issued By Zacks Research

Affiliated Managers Group, Inc. (NYSE:AMG) – Equities researchers at Zacks Research lowered their Q1 2024 EPS estimates for Affiliated Managers Group in a report issued on Tuesday, April 9th. Zacks Research analyst R. Department now forecasts that the asset manager will earn $5.03 per share for the quarter, down from their prior estimate of $5.04. The consensus estimate for Affiliated Managers Group’s current full-year earnings is $21.55 per share. Zacks Research also issued estimates for Affiliated Managers Group’s Q2 2024 earnings at $4.56 EPS, Q3 2024 earnings at $4.61 EPS, FY2024 earnings at $21.00 EPS, Q1 2025 earnings at $5.48 EPS and FY2026 earnings at $27.44 EPS.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.83. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The business had revenue of $502.70 million for the quarter, compared to analyst estimates of $524.98 million. During the same quarter in the previous year, the business earned $7.28 earnings per share. The firm’s revenue was down 6.8% compared to the same quarter last year.

Other research analysts also recently issued research reports about the company. TD Cowen began coverage on Affiliated Managers Group in a report on Thursday, January 4th. They set an “outperform” rating and a $185.00 price target on the stock. Barrington Research lifted their target price on Affiliated Managers Group from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday.

Affiliated Managers Group Stock Down 0.4 %

Shares of NYSE:AMG opened at $166.15 on Wednesday. The company’s fifty day moving average is $160.15 and its two-hundred day moving average is $145.92. The company has a market cap of $5.45 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 0.60 and a beta of 1.31. Affiliated Managers Group has a 12-month low of $120.22 and a 12-month high of $169.65.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is 0.23%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AMG. Alaska Permanent Fund Corp lifted its stake in Affiliated Managers Group by 4.1% in the first quarter. Alaska Permanent Fund Corp now owns 16,592 shares of the asset manager’s stock valued at $2,779,000 after acquiring an additional 661 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Affiliated Managers Group by 1.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 52,043 shares of the asset manager’s stock valued at $8,716,000 after purchasing an additional 924 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Affiliated Managers Group in the fourth quarter worth $3,599,000. PNC Financial Services Group Inc. increased its position in Affiliated Managers Group by 1.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,854 shares of the asset manager’s stock worth $1,189,000 after buying an additional 135 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Affiliated Managers Group by 16.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 67,729 shares of the asset manager’s stock worth $10,257,000 after buying an additional 9,575 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.